Minister of Industry and Mineral Resources Concludes Significant Visit to Denmark to Strengthen Economic Ties
His Excellency, Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, has successfully concluded an official visit to the Kingdom of Denmark. This visit signifies a pivotal advancement in the economic partnership between Saudi Arabia and Denmark, focusing on enhancing collaboration in the industrial and mining sectors and exploring mutual investment opportunities in promising industries aligned with the Kingdom’s Vision 2030.
During the two-day trip, Minister Al-Khorayef held high-level meetings with Danish government officials and leaders from the private sectors of industry and mining. The discussions concentrated on fostering non-oil trade within the mining sector and several strategic industrial areas. The prominent sectors of interest included pharmaceuticals, biotechnology, food production, and advanced machinery.
A noteworthy highlight from the visit was a ministerial meeting involving Minister Al-Khorayef and Denmark’s Minister for Economic Affairs, Stephanie Lose. Their dialogue centered around bolstering industrial and mining cooperation between the two nations, alongside solidifying investment relations. This significant meeting was attended by key figures, including the CEO of the National Industrial Development Center, Saleh Al-Salmi, the CEO of the Local Content and Government Procurement Authority, Abdulrahman Al-Sumari, and the Saudi Ambassador to Denmark, Saleh Arqousus.
Recognizing the essential role of the private sector in cultivating joint investments between Saudi Arabia and Denmark, Minister Al-Khorayef engaged with the CEO of the Danish Industry Confederation, the leading organization for businesses and employers in Denmark. Moreover, discussions with representatives from the Danish Chamber of Commerce included leaders from companies such as Vestas and European Energy. These meetings aimed to expand commercial relations, facilitate knowledge exchange, and identify investment pathways that would be mutually beneficial.
Additionally, Minister Al-Khorayef presided over a roundtable discussion with major Danish corporations at the forefront of the industrial and mining sectors. The focus of this exchange was to investigate collaborative opportunities that could arise from shared interests. Notable Danish companies like Novozymes, Arla Foods, Danfoss, FLSmidth, and Novo Holdings participated in this series of discussions, aimed at establishing effective partnerships in promising industries aligned with the Kingdom’s strategic goals, particularly in the pharmaceutical and food sectors.
A significant component of the visit also involved an exploration of innovative technologies. The minister toured the headquarters of Novo Nordisk, gaining insight into the advanced manufacturing processes of insulin and other biotechnological innovations. Furthermore, he visited the Science Park at the Technical University of Denmark, observing research and innovation development units alongside prominent industrial research projects and solutions designed to foster industrial research and innovation.
The visit further included a meeting with the Director-General of the United Nations Industrial Development Organization (UNIDO). They discussed enhancing the strategic partnership between Saudi Arabia and the organization, as well as the ongoing preparations for hosting the 21st General Conference of UNIDO in Riyadh this upcoming November.
This official visit by His Excellency Minister Al-Khorayef to Denmark aligns seamlessly with the objectives of Vision 2030, which aims to diversify the national economy and transform the Kingdom into a leading industrial power and a global hub for mining and minerals. By strengthening international partnerships, sharing expertise, transferring technology, and attracting significant investments, the mission seeks to cultivate various strategic industries that ensure the health and food security of the Kingdom.
In conclusion, the visit serves as a robust foundation for future partnerships and investments that are crucial to achieving the ambitious targets laid out in Saudi Arabia’s Vision 2030, emphasizing the importance of collaborative efforts in driving economic growth and sustainability.
